As rising living costs and stagnant wages continue to burden Indian citizens, growing disillusionment is taking hold, raising concerns about the country’s economic future. Ahead of Prime Minister Narendra Modi’s annual budget announcement this week, a recent survey underscores troubling trends, reflecting increasing dissatisfaction among the populace. With the economy under strain, these findings signal the challenges Modi may face as he attempts to navigate these economic pressures.
The survey, conducted by polling agency C-Voter, reveals that more than 37% of respondents anticipate a deterioration in the quality of life for ordinary Indians over the next year. This marks the highest percentage since 2013, pointing to significant concerns as India’s economic growth slows down and the middle class grapples with escalating financial pressures. Modi’s tenure since 2014 has been marked by efforts to boost the economy, but the survey results reflect frustration over his government’s handling of inflation and economic relief.
The C-Voter survey, which polled 5,269 adults across multiple states, highlights the economic frustrations of ordinary citizens. A primary concern is persistent food inflation, which has placed considerable strain on household budgets and diminished the spending power of many Indians. Despite India’s status as the world’s fifth-largest economy, the country is expected to experience its slowest growth in four years, exacerbating the already difficult economic situation.
Nearly two-thirds of survey respondents said inflation has remained unchecked, with prices continuing to rise since Modi took office. Over half of those surveyed noted that this inflation has had a negative impact on their quality of life. As Modi prepares his annual budget, there are high expectations for measures to provide relief to the struggling middle class and curb inflation.
In light of these economic challenges, Modi’s government is expected to introduce measures aimed at boosting growth, raising disposable incomes, and easing the financial burden on households. These measures may include efforts to tackle inflation and create more jobs, but questions remain about their potential effectiveness in addressing the concerns of ordinary citizens.
The survey also revealed that nearly half of respondents reported no increase in their personal income over the past year, even as their expenses climbed. Nearly two-thirds of those polled said that managing rising costs had become increasingly difficult. This stark imbalance between wages and rising expenses underscores the growing financial strain faced by many households.
While India has seen impressive economic growth in recent years, its job market remains a significant issue. The country’s young, dynamic population continues to face limited opportunities for stable, well-paying employment. Despite various initiatives, India’s job creation efforts have not been enough to match the pace of economic growth, leaving many struggling to secure steady livelihoods.
In response to rising unemployment, the government allocated nearly $24 billion in the previous budget for job creation over five years. However, these initiatives are still in the planning stages, with details yet to be finalized. As Modi prepares for his budget address, the survey findings underscore the urgent need for meaningful action to alleviate the economic pressures facing India’s citizens.